5 Must-Know for Foreigners Buying Properties in Malaysia (Kuala Lumpur, KL) in 2024
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- Опубликовано: 28 авг 2024
- #klproperty #malaysiainvestment #mm2h #malaysiarealestate
Need an experienced registered real estate agent to help you purchase a property in Malaysia?
Contact Yew Foong @ +60 16 738 9620 (drop me a Whatsapp message)
E3013
Fortress Real Estate
Ex-pat here.
I would never buy, only rent.
Quality of build is not fantastic considering Malaysia’s weather is harsh, very hot and heavy rain. Which brings to to tradesmen for property repairs, they are very affordable but 1.workmanship is very poor.
2. You’ll be painting the outside every 2 years due to mould.
3. Not all property has gone up in value, in fact a lot are coming down or stagnant.
4. The ringgit is weak which is great for purchasing but it will continue to get weaker against the majors in the future, I would never tie up my $ in Malaysia that’s my opinion.
5. Your vehicle will be scratch, dented, rear ended whilst parked, parking is tight everywhere and others just don’t care.
6.Capital gains tax to be paid on owner occupier at high a rate if sold in the first year which decreases slowly down to 7 years. After that is capital gains tax free.
7. Investment property returns are atrocious
8.Mmh2 can change for the worst if there is a change of government, you could me left holding the bag.
Having said all that, I still LOVE Malaysia and her people, the safest and friendliest on earth and have no problem spending my $ in Malaysia 👍🏽
Buy if u wan to live in it, Msia property is not for investment, trust me, been there n done that!!
You are residing in Malaysia now?
Where do you stay?
Not in Msia, invested in 1990s, exited 2015
@@user-pc4wb6md6p how come its not good for investing?
Good investment is luck more than skill. I bought a condo in klcc in 2001 at rock bottom price because of SARS. The price was double within 10 years, but after 10 years the price declined by 50% due to over supply. Now I live 6 months in KL and 6 months in UK and enjoy the best of both world.
Thankyou very informative video
Properties in Malaysia are NOT for investment. Only buy if you wish to reside in Malaysia for a longer time.
How come?
I want to buy in KL !!
Thank you for such a great video!
The Malaysian government keeps moving the goalposts for foreigners & there's little trust left thanks to the everchanging rules. Some foreigners who retired in Malaysia weren't allowed to return to their homes during COVID. Not being able to return to your own home? Hardly kind. Then, as a foreigner, you pay double to visit attractions like zoos. If Malaysian investor-retirees had to put up with the same overseas, they'd call it racism. 😊
210K USD is low entry barrier?
But resale value is useless and also very hard to find buyers. Please take notes
Is this resale a peculiar problem for foreign owned property only?
Issue with resale value and finding buyers depends on the area, type of development and developer etc. No difference whether is foreign or local owned. These days there are many many developments to choose from and its so important to choose the right one.
How much capital gain tax for foreigners?
Do foreigners(non mm2h) property buyer get residence visa for malaysia with the property purchase?
Real property gain tax (RPGT) in Malaysia for foreigner is:
1st 5 years = 30% on the capital gain
>5 years = 10% on capital gain
Property buyer so not automatically receive the MM2H visa when purchasing property. It has to be applied separately based on the conditions and criteria.
@@yewfoong Hi thanks for the video. I've a few questions:
-> Should MM2H be applied first and then after 1 year buy property or other way is possible?
-> With MM2H, are foreigners allowed to work in Malaysia?
-> Can a dependent fulfill the requirement of 60 days stay in Malaysia instead of the main applicant?
-> If a foreigner is investing for rental income, how much percent income tax needs to be paid to the Malaysian government?
-> What is the annual property tax in KL on a property?
Are you able to give me the on going cost of owning a property in Malaysia , like strata levies, council rates , any other associated expense so we as applicants of MM2H are or should be aware off
Good info ty
thank you for your insight ..please clarify why has the mm2h got the new property threshold of 750000.00
thanks
KL for Foreigners Buying Properties =)
I am from India, can i buy farming land in KL
Beware of currency loss, official letters if you ever receive is not in English.
Can foreigner buy individual title landed in Malaysia Penang? Whats the minimum purchase price for Landed housing for foreigners for non mm2h and also for mm2h in Penang now??
Any foreigner property minimum sum purchase requirements for both new and resale Condo in penang?
Can Foreigner build?
is that silver m2h program for KL after 5 years how is it renewable? what if government asks for a higher fixed deposit afterwards? 🤔
Usually the MM2H program that you signed up for, all the requirements will not change during the period.
After the expiry of your MM2H period and if there are new requirements like higher fixed deposits etc, then you will probably need to comply in order to renew for further terms.
Confused. Really confused...
Hi can you clarify if am taking silver catogory after 5 years for renewal cost and if can sponcer my family and how much visa cost for my family per adult visa
Currently there are no concrete answer for that as the government has not laid out all the rules.
Good info. However, how to get mortgage for buying property being a foreigner. please provide your contact details so i can go a head. thanx!
Very useful information, but do I have to pay 90% of the balance or when I get the keys means when completed the project.
For secondary market, 90% will need to be paid around 3 months from the date you get the approval of state authority.
As for primary market, payment is based on the statis of completion by %.
How much is lawyer and disbursement fees in kl?
Is the property title clean and safe in malaysia ?
Property Title is clean and safe in Malaysia, guided by the Torrens law (indefensible title when title is under your name).
As for lawyer fee, they follow a tier. You can easily find an online calculator for that. Hope this helps 👍🏽
are u sure great weather ?
Definitely buying
I am interested and I need help with MM2H also. Can you help me out I am from Canada.
For first timer interested in MM2H, the best way to apply for MM2H is to go through a registered MM2H agent in Malaysia.
Hi, yewfoong, could you please tell me what the property income is for the tax rate? Once the property is rented after purchased by foreigners. Thx❤
You say one Can buy a property in KL without been in the MM2H program !!!!! But than can you get a residency??????
Buying properties in Malaysia does not automatically give you residency. They are 2 separate matters.
I have the Sarawak MM2H visa but KL would suit me better as a base as I only have to spend 30 days in Sarawak a year. Can I purchase in KL and travel to Sarawak as per visa requirements?
From my understanding, the money deposited as per visa requirement can only be withdrawn to purchase the property in Sarawak but you can always purchase properties in KL via different funds.
@@yewfoong Thanks, that was my intention. Funds in Sarawak will be solely used to maintain visa!
How is the rental market, if I want to rent out my property in KL?
Depending on the exact area and condo. For the right condo in Mont Kiara, one can expect a 5% ROI on rental.
Can i buy shops in mall or commercial shop ?and is its easy
to get loans from Malaysian bank ?
Dealing with interest is forbidden in islam allah says in the quran that those who deal with interest allah and his messenger will wage war on them
I suggest reading the quran and coming to islam also checkout
(The muslim lantern) youtube channel
Notes about interest :
1) the 2008 financial crisis wouldn't have happend if people didin't deal with interest
2)israel (the evil state)
(the occupying entity ) was formed with interest money
( the rothschilds money)
If people didin't get loans from rothchilds banks they wouldn't have been able to even establish israel
What about the other parts of Malaysia like the one near the Singapore boundary johor?can you buy a house and lot there?ty
In general, foreigners can buy houses (landed and high rise) in Johor Bahru as long as the minimum purchase price is RM 1 mil
Hi Yew Fong, can you buy multiple properties that would add up to 1 million MR to fulfill the mm2h min reqmt ?
Nope can't add up. Each property must be a minimum of RM 1 M.
@@yewfoong got it, thanks.
I have heard that the property must be held for at least 10 years. Is that correct?
Nope. Not true.
Do you deal with KLCC central area too?
Sorry no. Currently only Mont Kiara.
So, do I need to be under MM2H in order to buy a property in MY?
No
How much do you charge for assisting people getting the Malaysian residence for 5 years ?
Sorry I do not provide that service as I'm a registered estate agent. You can look for registered MM2H agents in Malaysia to help you with that 🙏🏽😊
Why foreigners have to buy property with the minimum 1million price in KL?
It is set by the Malaysian government.
How do i buy Land in malaysia as a foreigners ? Can you do a video on it?
Depending on where the land is located as each state in Malaysia has different requirements.
What type of land are you interested in? Commercial, residential, industrial or agricultural?
@@yewfoong Residential ,preferably near Beach area / mountain / Lighthouse
@@rgkafk5djsk291 Perhaps you can look into Penang
@@yewfoong Thanks YewFoong! Looking forward to the next video.Keep up the good work 🙏
What is minimum requirement for house in Penang?
For foreigners without MM2H, condos and apartments is minimum of RM 1 mil. Landed houses, minimum is RM 3 mil. Hope it helps 👍🏽
Hi, what's the average rental yield for the investment?
Depending on the area and type of property. On average in Mont Kiara, a good condo will fetch around 5% ROI.
@@yewfoong Thank you, I appreciate.
But, when you want leave this musezine Islam country, it's difficult to sell. Or you lose all your investments.
Can foreigners buy with Bitcoin?
Nope
Can you use a ENGLISH lawyer and not KL one?
Always best to use a local lawyer that understands local laws.
Useless law of Malaysia, any time can change for foreigners, dont buy in Malaysia
Not true , I expect grandfathered in to be the case. In other words if you get in one visa or resident status and they change the law it will be under the condition you get in. Not the new law which would not apply to you.
are there any rental investment opportunities?
Yes for sure. When it comes to Mont Kiara rental investment, MK 10, MK 11 and MK28 are consistent in at least 5% ROI
Can I buy a high rise condominium unit from the U.S?
Yes you can. As long as the miminum price of property is RM 1 mil onwards in Kuala Lumpur.
She is a salesman. If you are a foreigner, please do not buy housing property in Malaysia to live or invest in. Foreigners are NOT welcome because of the politics. You are a cash cow for the Malaysian government, bank, lawyer and property agent. The interest rates are high. If you use full cash, your net rental income (minus all expenses), is taxed at 30%. The Malaysian Ringgit depreciated (crashed) over the past, 10, 20 and 30 years. If you need to reside in Malaysia, just rent. Super cheap. The owner is subsidising you. I am one of them. My tenants love me. 🫶